Coupang Inc: Entered Repurchase Agreement, Effective As Of April 1, With Maverick Holdings C, L.P. For The Co To Repurchase 10M Shares Of The Company's Class A Common Stock For $17.79 Per Share In A Privately Negotiated Transaction For An Aggregate Purchase Price Of $177.9M

Author: Benzinga Newsdesk | April 05, 2024 04:04pm

- SEC Filing

 

On April 2, 2024, Coupang, Inc. (the "Company") entered into a Share Repurchase Agreement (the "Repurchase Agreement"), which is effective as of April 1, 2024, with Maverick Holdings C, L.P., an early stage investor, for the Company to repurchase 10,000,000 shares of the Company's Class A Common Stock for $17.79 per share in a privately negotiated transaction for an aggregate purchase price of $177,900,000 (the "Repurchase"). The Repurchase Agreement contains customary representations, warranties, and covenants of the parties. The Repurchase was consummated on April 3, 2024. The Company is constantly evaluating its capital allocation strategy and will continue to assess various opportunities, including share repurchases, to generate long-term shareholder value.

The foregoing description of the Repurchase Agreement is a summary and is qualified in its entirety by the terms of the Repurchase Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.

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